[Federal Register Volume 80, Number 165 (Wednesday, August 26, 2015)]
[Notices]
[Page 51875]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-21060]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for REG-157302-02 (Final),
TD 9142
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
deemed IRAs in qualified retirement plans.
DATES: Written comments should be received on or before October 26,
2015 to be assured of consideration.
ADDRESSES: Direct all written comments to Christie Preston, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the form and instructions should be directed to Allan
Hopkins, at Internal Revenue Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224, or through the Internet at
[email protected].
SUPPLEMENTARY INFORMATION:
Title: Deemed IRAs in Qualified Retirement Plans.
OMB Number: 1545-1841.
Form Number: REG-157302-02; TD 9142.
Abstract: Section 408(q), added to the Internal Revenue Code by
section 602 of the Economic Growth and Tax Relief Reconciliation Act of
2001, provides that separate accounts and annuities may be added to
qualified employer plans and deemed to be individual retirement
accounts and individual retirement annuities if certain requirements
are met. Section 1.408(q)-1(f)(2) provides that these deemed IRAs must
be held in a trust or annuity contract separate from the trust or
annuity contract of the qualified employer plan. This collection of
information is required to ensure that the separate requirements of
qualified employer plans and IRAs are met.
Current Actions: There is no change in the paperwork burden
previously approved by OMB.
Type of Review: Extension of a currently approved collection.
Affected Public: Businesses or other for-profit organizations, Not-
for-profit Institutions, and State, local or Tribal government.
Estimated Number of Respondents: 800.
Estimated Time per Respondent: 50 hours.
Estimated Total Annual Burden Hours: 40,000.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information to
be collected; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: August 19, 2015.
Allan Hopkins,
Tax Analyst.
[FR Doc. 2015-21060 Filed 8-25-15; 8:45 am]
BILLING CODE 4830-01-P